Snowflake Acquires Observability Platform Observe for $1 Billion in Largest Deal to Date
Summary
Snowflake announces its largest acquisition ever, purchasing observability platform Observe for $1 billion to help users monitor data systems and resolve issues 10 times faster through unified telemetry data collection.
Key Points
- Snowflake signs definitive agreement to acquire observability platform Observe for approximately $1 billion, marking its largest acquisition to date
- Observe, founded in 2017 and built on Snowflake's databases, has raised nearly $500 million in venture capital and was most recently valued at $848 million
- The integration will allow users to monitor their data stack and fix issues 10x faster while creating a unified framework for telemetry data collection